Month: September 2020

Globalization has lost its shine for the rich countries which in the first place had been its promoters as they went around the world looking for cheap labour in the 1980s. East Asia and then in a big way China became their sweatshops. The result was, not only millions were lifted out of poverty in these regions, but the transfer…

LAHORE, (APP – UrduPoint / Pakistan Point News – 22nd Sep, 2020 ) :The China Pakistan Economic Corridor (CPEC) project intends to build Pakistan‘s most needed infrastructure and boost its economy by constructing modern transportation networks, setting up of Special Economic Zones (SEZ) and numerous energy projects. Geo-strategically, CPEC project is located between three key important landlocked regions of the globe including economically emerging and rich-resourced…

Despite declaring a loss after tax of Rs 6.465 billion for the year ended June 30, 2020, Pakistan State Oil (PSO) may have found a silver lining as the company has managed to retire Rs 42 billion debt in the company’s short-term borrowings. As per details, PSO short term borrowings reduced from Rs 121.678 billion in FY19 to Rs 79.032…

LAHORE: The Multan Electric Power Company (MEPCO) remained very close to its recovery target, followed by Gujranwala Electric Power Company (GEPCO) and Lahore Electric Supply Company (LESCO) by showing their recoveries as 99.8 percent, 98 percent and 97.67 percent respectively during 2018-19, said Performance Evaluation Report of National Electric Power Regulatory Authority (NEPRA) for the fiscal year 2018-19. However, none…

Karachi — Pakistan may auction unutilized LNG regasification capacity of around 300 MMcf/d available at the government-owned Gasport Terminal in an effort to reduce the financial burden, Abdullah Ghais Paracha, chairman of the All Pakistan CNG Association, told S&P Global Platts. The country’s Economic Coordination Committee in July approved a proposal to give third parties access to its LNG receiving facilities…

Warnings from both the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) about confirmed gas shortages for Punjab and Sindh respectively, means that residential consumers and businesses are in for a tough winter. Federal Energy Minister Omar Ayub had, as early as the start of August, informed a Senate standing committee that the problem of gas…

Volkswagen will leverage its global footprint to profitably produce a new all-electric SUV called the ID.4. The vehicle, which will be produced at five factories on three continents, targets mainstream buyers, starting at $39,995 when it arrives in U.S. showrooms early next year. Pricing excludes an up to $7,500 federal tax credit to purchase electric vehicles. “This is truly a breathtaking…

KARACHI: As textile exporters continue to face gas shortages, Sindh Government Spokesperson and Adviser to Chief Minister Barrister Murtaza Wahab on Tuesday urged the federal government to immediately resolve gas shortage issues being faced by Karachi-based industrialists. Addressing Korangi Association of Trade and Industry (Kati) members on Tuesday, he said that Sindh has first right on the gas which is…

ISLAMABAD: Prime Minister Imran Khan on Tuesday was informed that owing to the reduction in local production and difference of prices between local and imported gas, full cooperation of all the provinces was required to meet the demand of gas during the next few months. Chairing a meeting to review the current demand and supply situation, the prime minister directed…